Police say Corey Richardson was arrested at an apartment building in Toronto's east end on Monday.
He is due to appear in a Toronto court on Tuesday.
Several times this summer, police made appeals for information about Richardson, who is accused of robbing banks in Toronto and Winnipeg.
Police have alleged that he is responsible for two bank robberies in Winnipeg and an additional 11 in Toronto.
The Canadian Bankers Association had also offered a $10,000 reward for information leading to Richardson's arrest and conviction.
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